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TheRumpledOne
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Re: TRO SR RR

Postby TheRumpledOne » Thu Nov 27, 2008 6:00 pm

Fxtraveller wrote:Could someone pleeease post the TRO SR RR as an attached file?

The one that indicates the time to go long/short. I use the tro dynamic fibs, very useful, but would like to see the entry signals in action of the TRO SR RR.
I've been searching for it on babypips for a long time, cant find it. :(


Would much appreciate the help.
Cheers to everyone.
Andrey


TRO SR RR is one of the hundreds of indicators you receive if you make a donation to my PayPal account.

TRO SR RR is based on the same code as TRO DYNAMIC FIB SR. The difference is the RR part - RISK/REWARD DISPLAY.
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Postby razorboy » Thu Nov 27, 2008 7:09 pm

I use almost the same approach as you do,lol.

Let's presume there is a green candle making a new resistance. I wait for the next candle to open bellow of the close of the first green candle, than I wait for the new candle to go up and fail. When on it's way down I enter as soon as the color turns red. Mostly I win. My SL is 5 pips above resistance. The only problem is, sometimes the move up is not over yet. And you get all the signals align, candle failed to get up, and it turned, went red, but then suddenly shoots up. I need to find some filter for that.

Any suggestions.

I don't trade break of resistance, only if there is a real huge momentum. I have lost too many times on a break of a previous resistance with a new candle. Too many times price crosses it and than turns. For my absolute SL of 20 pips, that happens a lot. I rather wait for the new signal described above. I take 5 pips for sure. I need to inplement Dragons trading and let it run...[/quote]

Coming off of support, I just go short as long as the open is below the pivot. sometimes it goes against me for a bit. If you dont get in right away, you miss the candles that shoot off in the right direction from the very open. my SL is somewhere between the midpoint of the high candle and the resistance line. I only play between the dots because I havent spent the time to watch typical price behavior when it breaks resistance (i will stay in a position sometimes when it breaks, but never use that as an entry). but typically, on an up trend, if price opens above the pivot, or on a down trend if it opens below the pivot, there is still some profit to be had.

I realize that candles and pivots are really just artifacts that can be skewed depending on time lag (watch 2 charts and you will see what I mean), but I find that even if I cheat just a bit - the open is close to but not exactly where I want it to be relative to the pivot point, I often get screwed (and not in the good way), but usually one of the first two candle is good for a trade.

I have been attempting to see if there is some pattern in the relation between a candle's mid point and pivot point in predicting future price action (ie how does the next candle behave if the pivot point is above the mid point when the candle closes) - not sure if there is anything to be had

The hard part for me is forcing myself to stay in a trade to the 5 to 10 pip range.

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Postby razorboy » Thu Nov 27, 2008 7:17 pm

dont think there is anything to be had on pivot point mid point thing................
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

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Postby TheRumpledOne » Thu Nov 27, 2008 7:18 pm

Image

Some of you may be wondering about the challenge I presented in another forum.

OK, lets try to firm up the rules:

Bunny's developed a bit of a following trading EURUSD, I have no objection to sticking with that, although if you'd rather a bit more volatility thats fine by me.

I have no objection whatsoever if you'd like to pass up selected entries, if you wish to impose the additional constraint of taking every set up thats fine, but I certainly would not expect you to take trades that dont meet with your criteria

Im fine with discretionary exits, although this of course means that verification by EA wont be possible, which pretty much invalidates the whole challenge for those who are critisising the "system" rather than the trader, but I'll play along How do you suggest we monitor your entries and exits, I assume posting in a forum is going to be problematic ?

Lets take a look at the stats at the end of the week and decide if the sample population is sufficient to draw a meaningful conclusion.
I don't want any wishy washy entries because then you'll use that against me in the future.

I want YOU to pick the currency so I can't be accused of CHERRY PICKING the currency.

The rules ARE firm:

1) We use the first 3 numbers that were posted by people since I asked as the PRICE ENDING NUMBERS.

2) We use an H1 chart to determine the candle color and trade direction. Close above open is GREEN CANDLE, close below open is RED CANDLE.

3) If the candle is GREEN and price moves UP to one of the prices ending in the random number then we go long. If the candle is RED and price moves DOWN to one of the prices ending in the random number then we go short. NO long entries on RED candles and NO short entries on GREEN candles.

4) We take the FIRST TRADE in each direction each hour. This means the maximum number of trades per hour is 2. One long and one short. We do NOT pass up or cherry pick trades.

5) If a line is never touched, then NO TRADE.

6) 5 Pips or more is considered a winning trade.

7) We will STOP LOSS at 20 pips OR if the candle changes color AND hits a price ending in one of the random numbers. For example if we are long at x.xx25 and the price never reaches x.xx30 and the H1 candle turns red and hits x.xx09 (assuming 09 is another random number) then we will stop out and reverse (assuming this is the first time x.xx09 was hit this hour).

8) We will trade the EURUSD unless this is NOT your favorite currency.

Let me know if the rules need more clarification or explanation.

MT4 indicators attached.
Attachments
challenge.zip
(16.67 KiB) Downloaded 154 times
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Postby razorboy » Thu Nov 27, 2008 7:30 pm

what forum was this posted in?
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Postby winny » Thu Nov 27, 2008 7:33 pm

TRO or someone else,

I solely use the BuyZone strategy/indicator, and I am trading profitable with it. Today I was reading this topic and I read that one would only need the 1 hour candle and the Fib SR for trading profitably. I still use Tradestation and as said I only use the BuyZone indicator with the 60 minute candle. I am looking into that Fib SR indicator at the moment. Perhaps I can use it to get even more profits. Unfortunately I do not know how to read/use this indicator. Can someone please explain to me how it should be used correctly. Thank you.

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Postby TheRumpledOne » Thu Nov 27, 2008 7:51 pm

Image

According to the stats, if this hour stays RED the next hour's reversal trade should be a slam dunk.
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TheRumpledOne
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Postby TheRumpledOne » Thu Nov 27, 2008 7:52 pm

winny wrote:TRO or someone else,

I solely use the BuyZone strategy/indicator, and I am trading profitable with it. Today I was reading this topic and I read that one would only need the 1 hour candle and the Fib SR for trading profitably. I still use Tradestation and as said I only use the BuyZone indicator with the 60 minute candle. I am looking into that Fib SR indicator at the moment. Perhaps I can use it to get even more profits. Unfortunately I do not know how to read/use this indicator. Can someone please explain to me how it should be used correctly. Thank you.


If you are profitable then stick with what you are doing.

DO NOT CHANGE A THING!
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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winny
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Postby winny » Thu Nov 27, 2008 7:59 pm

TRO, of course, I understand, but I was thinking
if perhaps this FIB SR indicator could also be used to let profits run
and get even more pips in the pocket on a daily base.
Does it behave like a trend indicator and/or trailing stop loss ?

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hi tro :)

Postby willkohsg » Thu Nov 27, 2008 8:17 pm

TheRumpledOne wrote:Image

According to the stats, if this hour stays RED the next hour's reversal trade should be a slam dunk.


Hi TRO,
sorry for being noob and asking u this question,

but how does this work??
how do we see if the nxt hour would be a slamdunk?

and what are the names of the indicators in the charts?
I have gotten ur indicators when i donated but i guess i dont use about 99% of them :p ( cos i have no idea how they work :D )

i see some text:is it an alert for buzzard? :)

by the way i just visited trade2win forum.. oh man..

those pple there have SERIOUS issues.. ( every negative post i read makes my life shorter!! *gasp * approach with caution )

really suggest u get away from all that negativity TRO.. but i guess u have the heart to be patient and teach them..

as they say- it's easy to love pple that are likable, but a real test to love and be patient with those tat are not so likable..

Thanks again for being patient with many people and willing to teach us :)

Take care and God Bless :)

Regards,
William Koh aka. willkohsg :)

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